TE Connectivity's board approves recommendation to raise annualized dividend to $2.24 per share

Rhea-AI Summary

TE Connectivity Ltd. (NYSE: TEL) has announced a proposed increase in its quarterly dividend from $0.50 to $0.56 per share. This change will raise the annual dividend from $2.00 to $2.24 per share, effective from the third fiscal quarter of April 2022. The recommendation will be presented for shareholder approval at the Annual General Meeting on March 9, 2022. This reflects the company's commitment to returning value to shareholders and signals confidence in its financial stability.

Positive

• Quarterly dividend increase from $0.50 to $0.56 per share.
• Annual dividend rate raised from $2.00 to $2.24 per share.
• Demonstrates company's commitment to returning value to shareholders.

Negative

• None.

SCHAFFHAUSEN, Switzerland, Dec. 10, 2021 /PRNewswire/ -- TE Connectivity Ltd. (NYSE: TEL) announced today that its Board of Directors approved a recommendation to increase the company's quarterly dividend from $0.50 to $0.56 per share, for the four fiscal quarters starting in April 2022, the beginning of the third fiscal quarter. The recommendation would raise the company's dividend from the annual rate of $2.00 per share to $2.24 per share, and will be presented for shareholder approval at the company's Annual General Meeting of Shareholders on March 9, 2022.

About TE Connectivity
TE Connectivity Ltd. (NYSE: TEL) is a global industrial technology leader creating a safer, sustainable, productive, and connected future. Our broad range of connectivity and sensor solutions, proven in the harshest environments, enable advancements in transportation, industrial applications, medical technology, energy, data communications, and the home. With more than 85,000 employees, including over 8,000 engineers, working alongside customers in approximately 140 countries, TE ensures that EVERY CONNECTION COUNTS. Learn more at www.te.com and on LinkedIn, Facebook, WeChat and Twitter.

 

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SOURCE TE Connectivity Ltd.

FAQ

What is the new quarterly dividend amount for TE Connectivity (TEL)?

The new quarterly dividend amount is $0.56 per share.

When will the new dividend take effect for TE Connectivity (TEL)?

The new dividend will take effect in April 2022.

What is the annual dividend rate for TE Connectivity (TEL) after the increase?

After the increase, the annual dividend rate will be $2.24 per share.

When will shareholders vote on the dividend increase for TE Connectivity (TEL)?

Shareholders will vote on the dividend increase at the Annual General Meeting on March 9, 2022.